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Home / Industry / Banking /  Up to 1,200 penalty for ICICI Bank credit card users from today; 500 for cheque return
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ICICI Bank has revised charges for credit cards effective from February 10. Now, for all cash advances, the bank will charge a transaction fee on all cards of 2.50%, subject to a minimum of 500. The bank also revised late payment charges for all its credit cards except ICICI Bank Emerald Credit Card. Late payment charges vary with the total amount due. If your total amount due is less than 100, then the bank will not charge you. While for higher amounts the charges keep increasing with an increase in due amount. The highest amount that the bank will charge is 1200 for an outstanding amount of 50,000 or more.

ICICI Bank revises fees on credit cards

If a due amount is less than Rs100, there will be no late fee.

100 will be charged for a due amount between 100- 500.

500 for the due amount of 501- 5000.

750 for due up to Rs10,000.

900 for up to 25000.

1000 for up to 50,000.

1200 for due up to 50,000.

Other larger players in the market, like HDFC Bank, SBI Card and Axis Bank have been charging up to Rs1300, Rs1300 and 1000 respectively for over 50,000 balance payments.

ICICI Bank cheque charges

The lender has also a fixed charge of 2% of the total amount due (minimum 500) for the return of cheque and auto-debit. In case of cheque return, the bank will now charge 2% of the total amount due with a minimum of 500.

 

 

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